Sutton Place Investors LLC Invests $217,000 in General Electric (NYSE:GE)

Sutton Place Investors LLC acquired a new stake in General Electric (NYSE:GE) in the first quarter, Holdings Channel reports. The institutional investor acquired 1,236 shares of the conglomerate’s stock, valued at approximately $217,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in General Electric during the fourth quarter worth about $1,193,159,000. WCM Investment Management LLC acquired a new stake in shares of General Electric during the fourth quarter worth about $520,488,000. Brown Advisory Inc. lifted its holdings in shares of General Electric by 265.7% during the 3rd quarter. Brown Advisory Inc. now owns 3,008,425 shares of the conglomerate’s stock valued at $332,581,000 after purchasing an additional 2,185,793 shares in the last quarter. Lone Pine Capital LLC acquired a new position in shares of General Electric in the 4th quarter valued at approximately $268,519,000. Finally, International Assets Investment Management LLC increased its stake in General Electric by 11,947.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock worth $201,218,000 after purchasing an additional 1,563,484 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now owns 48,339 shares in the company, valued at approximately $6,552,351.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of GE traded down $2.74 during midday trading on Tuesday, reaching $161.75. The stock had a trading volume of 6,722,311 shares, compared to its average volume of 8,063,052. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The firm has a 50 day simple moving average of $161.29 and a 200-day simple moving average of $137.17. The firm has a market cap of $177.05 billion, a PE ratio of 53.03, a P/E/G ratio of 2.90 and a beta of 1.29. General Electric has a one year low of $77.93 and a one year high of $166.26.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $0.27 earnings per share. As a group, sell-side analysts anticipate that General Electric will post 3.93 EPS for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. General Electric’s payout ratio is presently 36.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GE. Vertical Research initiated coverage on shares of General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Jefferies Financial Group increased their target price on General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank of Canada boosted their price target on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $172.29.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.